Aon has agreed to pay rival brokerage Benfield $18.4 million (?9.5 million) to settle accusations it did economic damage by illegally poaching employees and business from Benfield's facultative reinsurance department.
According to statements released today by Chicago-based Aon and London-based Benfield, the firms reached an "amicable settlement" with one another and the former members of Benfield's facultative solutions team.
"We are pleased to have reached a mutually acceptable accord on this matter," said Michael D. O'Halleran, chairman and chief executive officer of Aon Re Global.
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